Technologies supporting automated underwriting processes are gathering momentum in the United States. New data-driven methodologies have emerged, and insurers have begun to sell insurance to the middle class, a group that has been underserved by insurers focused on selling to high-net-worth individuals.
The solutions, which have been evolving since the 1990s and have been used widely in the United Kingdom, South Africa and Australia, have been tracked by consulting firm Aite Group LLC, which published a report on the subject that provides an overview of automated underwriting platforms available in worldwide life insurance markets.
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